Fisher Asset Management LLC Sells 29,573 Shares of MakeMyTrip Limited $MMYT

Key Points

• Fisher Asset Management trimmed its stake in MakeMyTrip by 28.4%, selling 29,573 shares and leaving it with 74,509 shares (~0.07% of the company) valued at about $6.97 million.
• Analysts hold a generally positive view with a consensus rating of "Moderate Buy" (four Buys, one Hold) and a consensus target price of $106.33.
• MakeMyTrip reported quarterly EPS of $0.52 (beating $0.43) while revenue missed at $295.7M; the stock trades near $52.94 with a 52‑week range of $48.20–$113.85, a market cap of $5.89B, and a high P/E of 110.29.

Fisher Asset Management LLC trimmed its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 28.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,509 shares of the technology company's stock after selling 29,573 shares during the period. Fisher Asset Management LLC owned approximately 0.07% of MakeMyTrip worth $6,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. acquired a new position in MakeMyTrip during the 2nd quarter worth $43,000. Jones Financial Companies Lllp raised its position in shares of MakeMyTrip by 4,420.0% during the third quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company's stock worth $86,000 after acquiring an additional 884 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of MakeMyTrip by 10.2% during the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company's stock valued at $199,000 after acquiring an additional 188 shares during the period. Paradice Investment Management LLC bought a new position in MakeMyTrip in the third quarter valued at about $201,000. Finally, Genus Capital Management Inc. acquired a new stake in MakeMyTrip in the second quarter worth about $207,000. Institutional investors and hedge funds own 51.89% of the company's stock.

Wall Street Analysts Forecast Growth

MMYT has been the topic of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Bank of America cut their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a "buy" rating on the stock in a report on Wednesday, December 24th. Morgan Stanley reaffirmed an "overweight" rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Finally, Citigroup dropped their target price on shares of MakeMyTrip from $108.00 to $96.00 and set a "buy" rating for the company in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, MakeMyTrip presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.33.

MakeMyTrip Stock Up 7.9%

Shares of NASDAQ MMYT opened at $52.94 on Friday. MakeMyTrip Limited has a 52-week low of $48.20 and a 52-week high of $113.85. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $5.89 billion, a P/E ratio of 110.29, a P/E/G ratio of 1.69 and a beta of 0.64. The firm has a 50 day moving average price of $66.00 and a 200 day moving average price of $80.16.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The company had revenue of $295.70 million for the quarter, compared to analysts' expectations of $306.29 million. Analysts expect that MakeMyTrip Limited will post 1.27 EPS for the current year.

MakeMyTrip Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company's offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India's leading travel technology firms.

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